Calendar Year
1996 in US Banking
1,476 bank events are on record for 1996: 6 failures, 1,203 mergers or acquisitions involving a bank, credit union or bank holding company, and 267 enforcement actions.
6
Failures
$232.6M in failed assets
1,203
Mergers
Federal Reserve NIC, banking organizations
267
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
Jump to: Bank failures 1996 · Bank mergers 1996
How many banks failed in 1996?
6 banks failed in 1996, with $232.6M in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Aug 16, 1996 | Commonwealth Thrift & Loan | $11.5M |
| Aug 9, 1996 | Union Federal Bank, FSB | $32.6M |
| Jul 12, 1996 | Fairfield First Bank & Trust Co | $57.3M |
| Jun 14, 1996 | First NB of the Panhandle | $68.1M |
| May 31, 1996 | People's Bank & Trust | $22.7M |
| Mar 8, 1996 | Metrobank of Philadelphia | $40.4M |
Which banks merged in 1996?
1,203 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1996.
See the fuller list: Bank mergers 1996 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Sep 28, 1996 | First Southern State Bank | Covenant Bank |
| Sep 28, 1996 | Barnett Bank of Marion County, National Association | Barnett Bank, National Association |
| Sep 28, 1996 | Barnett Bank of Pinellas County | Barnett Bank, National Association |
| Sep 28, 1996 | Nine West Group of Vevay Employees Credit Union | Members Trust Federal Credit Union |
| Sep 28, 1996 | Barnett Bank of Southwest Florida | Barnett Bank, National Association |
| Sep 28, 1996 | Palm Springs Savings Bank, FSB | Hemet Federal Savings and Loan Association |
| Sep 28, 1996 | Texas American Bank | Compass Bank |
| Sep 27, 1996 | Shawmut New York Corporation | Fleet New York, Inc. |
| Sep 27, 1996 | American Bank of Pryor | RCB Bank |
| Sep 27, 1996 | Norwest Bank Texas, New Braunfels | Norwest Bank Texas, South Central |
| Sep 27, 1996 | Citizens Financial Services Corporation | Citizens Trust Company |
| Sep 27, 1996 | First Community Bank and Trust Company of Lone Grove | First National Bank and Trust Company of Ardmore |
| Sep 26, 1996 | Granite Holding Corporation | Independent Bancshares, Inc. |
| Sep 24, 1996 | First American Bank of Tangipahoa | First American Bank and Trust |
| Sep 23, 1996 | Norwest Bank Texas, Austin, National Association | Norwest Bank Texas, South Central |
| Sep 21, 1996 | Bank of Garber | First American Bank |
| Sep 21, 1996 | Jessamine First Federal Savings and Loan Association | Kentucky Bank |
| Sep 21, 1996 | Goodhue State Bank | First Farmers & Merchants Bank |
| Sep 20, 1996 | Community Bank & Trust Co. | First Fidelity Bank |
| Sep 20, 1996 | Itt Standard Federal Credit Union | Crossroads Community Federal Credit Union |
| Sep 20, 1996 | Comban Shares, Inc. | First Fidelity Bancorp, Inc. |
| Sep 18, 1996 | Security Savings Bank, F.S.B. | Constitution Bank, N.A. |
| Sep 18, 1996 | WFS Bancorp, Inc. | Emprise Financial Corporation |
| Sep 16, 1996 | First National Bank of Wheeling | Corus Bank, N.A. |
| Sep 16, 1996 | Lamb's Bank of Michigan City | First United Bank |
| Sep 16, 1996 | Madison Bank, National Association | Corus Bank, N.A. |
| Sep 16, 1996 | Aetna Bancorp, Inc. | Corus Bankshares, Inc. |
| Sep 16, 1996 | Madison Financial Corporation | Corus Bankshares, Inc. |
| Sep 16, 1996 | First State Bank of Calumet City | Corus Bank, N.A. |
| Sep 16, 1996 | Wilmot State Bank | Delta Trust & Bank |
| Sep 14, 1996 | The Bank of Commerce, National Association | Valliwide Bank |
| Sep 14, 1996 | Mercantile Bank of Humboldt County | Mercantile Bank MidWest |
| Sep 14, 1996 | Auburn Bancorp | Vallicorp Holdings, Inc. |
| Sep 14, 1996 | Mercantile Bank of the Bluffs | Mercantile Bank MidWest |
| Sep 14, 1996 | The First Bank | Will Rogers Bank |
| Sep 14, 1996 | LeClaire State Bank | Great River Bank & Trust |
| Sep 14, 1996 | Mercantile Bank of Mount Ayr | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Boone | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Centerville | Mercantile Bank MidWest |
| Sep 14, 1996 | American Bank & Trust Company of Houma | Regions Bank of Louisiana |
| Sep 14, 1996 | Mercantile Bank of Osceola County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Onawa | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Chariton | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Lyon County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Jasper County | Mercantile Bank MidWest |
| Sep 14, 1996 | Bank One, Lexington, National Association | Bank One, Kentucky, National Association |
| Sep 14, 1996 | The Jewett City Trust Company | Jewett City Savings Bank |
| Sep 14, 1996 | Mercantile Bank of Clay County | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Pella | Mercantile Bank MidWest |
| Sep 14, 1996 | Mercantile Bank of Marshalltown | Mercantile Bank MidWest |
The list holds 500 of the 1,203 mergers recorded for 1996.
Enforcement Actions in 1996
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Jan 19, 1996 | FRB | Jefferson Bank | Prohibition from Banking: Steen Ronlov |
| Jan 17, 1996 | FRB | Banco Portugues Do Atlantico, S.A. | Prohibition from Banking: Anthony Delgado |
| Jan 16, 1996 | OCC_OTS | Charter Federal Savings and Loan Association | Termination of Cease and Desist: Charter FS&LA |
| Jan 11, 1996 | OCC_OTS | First Fidelity Trust Company, New York | Orders of Removal/Prohibition: Thomas D. Lovely |
| Jan 11, 1996 | OCC_OTS | First Fidelity Trust Company, New York | Cease and Desist: Thomas D. Lovely |
| Jan 10, 1996 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Tamika M. Pack |
| Jan 10, 1996 | OCC_OTS | (individual) | Cease and Desist: Tamika M. Pack |
| Jan 10, 1996 | OCC_OTS | Marine View Savings and Loan Association | Cease and Desist: Radics & Co., LLC |
| Jan 10, 1996 | OCC_OTS | Plymouth Savings Bank | Cease and Desist: Cornelius Bottomley |
| Jan 10, 1996 | OCC | Summit National Bank | C&D or PC&D Requiring Restitution: Mannello, Joseph |
| Jan 10, 1996 | OCC | Summit National Bank | Civil Money Penalty (CMP): Manello, Joseph |
| Jan 2, 1996 | OCC_OTS | Commercial Federal Bank, a Federal Savings Bank | Orders of Removal/Prohibition: Christopher D. Rose |
| Jan 2, 1996 | OCC_OTS | Great Lakes National Bank Michigan | Cease and Desist: Melissa M. Hall |
| Jan 2, 1996 | OCC_OTS | (individual) | Cease and Desist: Kevin Spencer |
| Jan 2, 1996 | OCC_OTS | Commercial Federal Bank, a Federal Savings Bank | Cease and Desist: Christopher D. Rose |
| Jan 2, 1996 | OCC_OTS | Great Lakes Bancorp, A FSB | Orders of Removal/Prohibition: Melissa M. Hall |
| Jan 2, 1996 | OCC_OTS | Pacific Southwest Bank | Orders of Removal/Prohibition: Kevin Spencer |
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